Capital Group Municipal Income ETF (NYSEARCA:CGMU) Sees Large Volume Increase – What’s Next?

Capital Group Municipal Income ETF (NYSEARCA:CGMU) shares saw unusually-high trading volume on Friday . Approximately 764,791 shares were traded during trading, an increase of 50% from the previous session’s volume of 510,115 shares.The stock last traded at $27.15 and had previously closed at $27.14.

Capital Group Municipal Income ETF Price Performance

The stock has a fifty day simple moving average of $27.00 and a two-hundred day simple moving average of $27.19.

Capital Group Municipal Income ETF Cuts Dividend

The firm also recently declared a dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 31st were given a dividend of $0.0626 per share. The ex-dividend date was Friday, January 31st.

Hedge Funds Weigh In On Capital Group Municipal Income ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CGMU. Capital International Investors raised its stake in shares of Capital Group Municipal Income ETF by 2.9% in the 4th quarter. Capital International Investors now owns 39,111,005 shares of the company’s stock valued at $1,052,868,000 after purchasing an additional 1,120,266 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Capital Group Municipal Income ETF by 164,421.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,110,522 shares of the company’s stock valued at $30,495,000 after purchasing an additional 1,109,847 shares in the last quarter. Assetmark Inc. acquired a new position in Capital Group Municipal Income ETF in the 3rd quarter valued at $19,822,000. Envestnet Asset Management Inc. grew its stake in Capital Group Municipal Income ETF by 11.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 6,820,215 shares of the company’s stock valued at $183,600,000 after buying an additional 707,264 shares during the last quarter. Finally, MML Investors Services LLC grew its position in Capital Group Municipal Income ETF by 111.7% in the 3rd quarter. MML Investors Services LLC now owns 1,203,968 shares of the company’s stock worth $33,061,000 after purchasing an additional 635,133 shares during the last quarter.

About Capital Group Municipal Income ETF

The Capital Group Municipal Income ETF (CGMU) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed portfolio of US municipal bonds of varying maturities, exempt from regular federal income tax. CGMU was launched on Oct 25, 2022 and is managed by Capital Group.